Mumbai, February 27 (CommoditiesControl): Cardamom prices in major markets continued to register a marginal increase, propelled by sustained demand. A recent reporting error suggested prices were less than Rs 900 per kg on Friday, creating a temporary anomaly. However, market reports indicate that demand remains subdued in both domestic and export markets, exerting downward pressure on prices. Additionally, the combination of rising imports and declining exports further contributes to the challenges faced by the cardamom market.
In comparison to the previous session, the average price per kilogram has inched higher, moving from Rs 1,472-1,475 to Rs 1,384-1,500. The maximum price per kilogram has seen a slight rise from Rs 2,036 to Rs 2,040. Despite this marginal increase, the average price remains below Rs 1,500 per kg, with expectations for this trend to persist in the foreseeable future.
Reports indicate that grade-specific rates have held steady, following a relatively weak session. Prices for 7 mm grades range between Rs 1,480 to Rs 1,550 per kg, Rs 1,620 to Rs 1,700 per kg for grades 7-8 mm, and Rs 1,950 to Rs 2,000 per kg for grades 8 mm and higher.
Arrivals have displayed unpredictability, rising to 106,486 kg from 105,060 kg in the previous session. The total offtake also witnessed an increase, reaching 105,535 kg compared to 101,545 kg in the previous session. Despite challenges, demand has shown resilience as prices experienced a decline, with the daily offtake rate rising to 99.2% from 97.6% in the previous session.
(By CommoditiesControl Bureau; +91-9820130172)
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